Defibrillator Market Overview:

Defibrillators Market is expected to garner $15,610 million by 2022 with a CAGR of 6.5% during the forecast period 2014-2022. Defibrillators are devices used to deliver therapeutic shock to a patient’s heart in life-threatening conditions such as ventricular fibrillation, cardiac arrhythmia, and pulseless ventricular tachycardia. The defibrillation procedure encompasses delivery of an electric shock to the heart, which depolarizes heart muscles and restores its normal electric impulse. Growing focus towards public access defibrillator (PAD) by the public & private organizations has fueled the market growth. Moreover, advanced defibrillator devices, rapidly growing geriatric population with elevated risk of targeted diseases, and increasing incidence of cardiac diseases among all ages are further driving the market growth. However, product failures and recalls, increasing pricing pressure on players and lack of awareness about sudden cardiac arrest (SCA) are restraining the growth of this market.

The global defibrillators market is segmented based on product, end-user, and geography. Implantable cardioverter-defibrillator (ICDs) and external defibrillators are two major product categories of defibrillators. ICDs are further categorized into cardiac resynchronization therapy - defibrillator (CRT-D), transvenous implantable cardioverter defibrillator (T-ICDs) and subcutaneous implantable cardioverter defibrillator (S-ICDs). The T-ICDs market is the largest within Implantable cardioverter-defibrillator market owing to higher precision and targeted functioning.

In addition, external defibrillators are further categorized into manual external defibrillator (MEDs), automated external defibrillator (AEDs), and wearable cardioverter defibrillator (WCDs). AEDs are most commonly used external defibrillator accounting for more than two-thirds of external defibrillator market revenue in 2015. However, WCDs are gaining express momentum and is expected to churn substantial revenue share of both MEDs and AEDs during forecast period due it’s easy to use and wearable features.

External defibrillators are life-saving medical devices used to deliver defibrillating shock through paddles or electrode pads to diagnose and restore life-threatening abnormal heart rhythms in the conditions of unexpected cardiac arrest. These devices are capable of performing cardioversion, defibrillation, and pacing of the heart. External defibrillators are of three major types, namely manual external defibrillator, AEDs and WCDs. AEDs are used in most cases among SCA patients due to productive opportunities observed and ease in use, thereby bagging a large market share in the global defibrillators market.

The increase in adoption of technologically advanced defibrillators, growing demand for quality medical care, high incidences of SCA, and cardiovascular diseases are the drivers of growth. In addition, the increasing focus of public & private organizations and key market players on public access defibrillators and an increase in number of training & awareness programs across the globe are a few more factors driving the growth of this industry. Moreover, promoting the innovation of the next-generation external defibrillators to improve safety and effectiveness, enhancing the ability of industry, identifying and addressing problems associated with devices by the FDA, and focusing on the SCA are anticipated to create lucrative opportunities. SCA is the leading cause of death globally, which is a life-threatening condition. It can be treated successfully by early intervention of the disease with defibrillation at the right time. The global external defibrillators market is dominated by automated external defibrillators (AEDs) and expected to grow with highest rate in future due to increase in adoption by heart failure patients across the globe. The increasing installations of public access AEDs, growing incidence of cardiovascular diseases, and growing awareness regarding the lifesaving potential of AEDs have fueled the market growth. The second-largest market of external defibrillators is covered by manual external defibrillators followed by wearable external defibrillators.

SCA is a sudden and unexpected pulseless condition, which is caused by the cessation of cardiac mechanical activity. SCA is a leading cause of death among adults, usually above the age of 40. In the U.S. alone, 326,200 people experienced out-of-hospital cardiac arrests (OHCA) in 2011. In addition, cardiac diseases are the leading cause of death worldwide, accounting for 17.3 million deaths per year and projected to grow more than 23.6 million by 2030. According to the American Heart Association, 5.5 million people are affected by heart failure in the U.S. alone, while 10 million in European countries. Furthermore, in the U.S., around 700,000 new cases of heart failure are diagnosed annually and approximately 58,000 patient deaths are attributed to heart failure annually. This is one of the major driving factors for the growth of the defibrillators market. Moreover, the rising incidence of diabetes, atherosclerosis, strokes, hypertension, and others due to lifestyle habits such as unhealthy dietary habits, lack of physical activity and smoking, among others, is the leading cause of CHF. Moreover, rising geriatric population base is expected to fuel the prevalence of CHFs, thereby augmenting the market growth.

Asia-Pacific: Most Lucrative Region

The Asia-Pacific region includes China, Japan, India, Australia, Malaysia, Thailand, New Zealand, and other countries in the Pacific Rim. The Asia-Pacific region offers lucrative opportunities in the defibrillators market, anticipated to be the fastest-growing market during the forecast period. Asia-Pacifc is densely populated with India and China being the most populous. Its growth is supplemented by the growing demand for sophisticated defibrillators, large number of healthcare reforms, high prevalence of heart failures, and increased focus of key players on developing technologically advanced cost-effective defibrillators.

However, the weak reimbursement scenario for defibrillation procedures, lack in advanced healthcare infrastructure, low awareness among physicians & patients about different treatment devices, and high cost of these devices are impeding the growth of the defibrillators market in these countries.

3.3.1 High competition and fragmented market moderate the power of the suppliers
3.3.2 Scattered and large number of buyers moderate their bargaining power
3.3.3 High capital investment moderates the threat of new entrants
3.3.4 High intensity of rivalry
3.3.5 Unavailability of substitutes lowers the threat of substitutes